MANAGER - ACTUARIAL SERVICES

My Jobs In Kenya
Nairobi
Contract Type: Full Time
Education Level: Bachelors or Equivalent

Description

LEVEL OF EDUCATION & EXPERIENCE:

  • Graduate with a degree Actuarial Science, Statistics or Mathematics with completion of the core technical actuarial exams (12/15)
  • Good understanding of the concepts of Insurance business with a bias for medical business
  • Mature, team player with supervisory skills
  • Strong computer and business solutions software skills

OTHER COMPETENCIES:

  • Strong analytical and problem solving skills
  • Results Oriented, Customer focused
  • Excellent communication and interpersonal skills
  • A self starter who demonstrates energy who seeks to get things done and at the same time addressing a wide variety of tasks
  • Able to provide satisfactory solutions involving the new and unexpected
  • Able to provide a positive and innovative work environment
  • Good understanding of the insurance market practices
  • Asserts authority when necessary and strives to work within timescales and deadlines


 

Job Specification

PURPOSE OF THE POSITION:

The jobholder is responsible for the day to day running of the Actuarial function by conducting the necessary data checks and analysis; experience analysis, business projections and valuation of technical liabilities.

KEY PERFORMANCE AREAS:

  • Valuation of the company's technical liabilities including outstanding claims reserves and unexpired risk reserves
  • Review of quotations done by pricing team, in view of ensuring price accuracy and competitiveness.
  • Scheme Renewals invitation as they fall due
  • Product performance review, including loss ratios for each product sold
  • Product development

DUTIES INCLUDE:         

  • Ensure sufficiency and quality of data used in the calculation of technical provisions;
  • Valuation of technical liabilities as well as completion of quarterly solvency returns as per regulations;
  • Computation of the solvency position, including calculation of minimum capital required;
  • Product development including developing premium rates for new and review of rates for existing products;
  • Experience analysis, including analysis of expected reserve estimates against actuals;
  • Advise on reinsurance programs;
  • Monitor performance of various products, retail, SME and corporate products to ensure they remain properly priced;
  • Assist pricing team in ensuring competitive, accurate quotations are done in a timely manner;
  • Monitor and ensure that renewals are sent out and follow up for renewal confirmations in liaison with marketing team;
  • Supervise the Actuarial and pricing team;
  • Prepare the business in the adoption of IFRS 17
  • Initiate continuous review and enhancements of underwriting processes and manuals with reference to best practices in the line of business
  • Provide other reports as may be required by management

Qualified Candidates should send their CVs to info@myafricanjobs.com